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Question - Given the following four subsequent events (unrelated) for the December 31, 2016 year-end:
i. On January 15, 2017, a contingent liability was settled.
ii. On January 25 2017 management disposed of a business segment representing 40% of the total assets.
iii. On January 3, 2017, management issued new common stock.
The audit report date is February 2, 2017.
Required - State clearly the type of subsequent event (Type I or Type II), if any, and the required impact on the financial statements.
Make a general journal. Should make two journals for 12th and 30th? or Just make one journal for 30th and what are the particulars(account)?
No dividends were paid the previous 2 years. If Koon declares $400,000 of dividends in the current year, how much will preferred stockholders receive if the preferred stock is cumulative?
ow much is Wasson's total cost of work in process for the year? Beginning raw materials inventory 18,000. Direct labor 210,000
brown cow dairy uses the aging approach to estimate bad debt expense. the balance of each account receivable is aged on
Harrison Forklift's pension expense includes a service cost of $16 million. Prepare appropriate general journal entries to record Harrison's pension expense
Problem - Compute the charitable contribution deduction (ignoring the percentage limitation) for each of the following C corporations
Retained earnings $46,000, Rent expense $18,000, Revenues $101,000, and Salary expense $60,000. How much are total assets
What total amount should be credited to additional paid-in capital from common stock as a result of the conversion of the preferred stock into common stock?
To earn an after tax profit (pA) of $125,000 per month, how many sweaters would Fashions have to sell if it buys the sweaters from the supplier
Compute the amount of FICA taxes that should be withheld fromher:
Which is true of tax-free reorganizations? In order to achieve reorganization treatment, the transactions must be pursuant to a written plan of reorganization.
What would be the selling price of baseball bats mark -up percentage of 85 % ( cost is $ 12 ) and the baseball gloves with a target gross margin
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